In 2011, DTCC teamed with industry counterparts to win mandates to build two new repositories for over-the-counter (OTC) derivatives products.
A DTCC/SWIFT coalition won a competitive process to develop a global repository for OTC foreign exchange derivatives trades. A strategic alliance with EFETnet secured the mandate to build the Global Trade Repository for Commodities (U.S.) LLC. Both are new asset classes for DTCC.
Their addition brings to five the number of OTC derivatives repositories DTCC has under its umbrella: credit, equities, interest rates, foreign exchange and commodities. The credit, equities and interest rate repositories are already up and running.
In November, DTCC filed two registration applications with the U.S. Commodity Futures Trading Commission (CFTC) to facilitate swaps transaction recordkeeping and regulatory reporting by U.S. market participants as required by CFTC regulations under the Dodd-Frank Act. One registration is to operate a swaps data repository (SDR) for OTC credit, interest rates, equities and foreign exchange derivatives. The other is to operate a commodities SDR (see article, page 8).